Paramount and Warner Bros are now one Hollywood giant: Skydance. Here’s how we got here
CHICAGO (AP) — It’s official: Skydance-owned Paramount has closed its $81 billion takeover of Warner Bros. Discovery.
Skydance-owned Paramount has successfully completed its $81 billion acquisition of Warner Bros. Discovery, creating a new Hollywood giant known simply as "Skydance." The merger combines two of America's most established moviemaking studios, alongside HBO Max titles ranging from "Harry Potter" to "The Godfather," and networks like CNN, CBS, and Paramount+.
The deal sees billionaire David Ellison and his co-CEO Ynon Kreiz taking the reins of the newly formed company. This consolidation of power in the industry comes after a tumultuous year-long battle over Warner's fate, with Netflix initially being a competing suitor before dropping out in favor of Skydance-owned Paramount. Despite opposition from numerous Hollywood figures, including celebrities like Jane Fonda and James Cameron, as well as critics of the merger, the deal has been praised by Ellison, who emphasized the promise of the future in a statement to AP.
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Also reported by 6 other outlets
- How Paramount, Warner Bros made Skydance economictimes.indiatimes.com
- Paramount takes over Warner Bros in $110bn Hollywood merger bbc.co.uk
- Paramount wraps up mega Warner Bros merger to create Hollywood powerhouse Skydance channelnewsasia.com
- Paramount closes deal to acquire Warner Brothers Discovery thehill.com
- Paramount closes $110B deal with Warner Bros. Discovery after months of wrangling torontosun.com
- Paramount and Warner Bros are now one Hollywood giant: Skydance. Here’s how we got here winnipegfreepress.com
